Multifamily

1716 N Alexandria Ave

Listing Price: $1,475,000

Cap Rate
4.17%
Number of Units
3
GRM
15.42
Occupancy
97.00%
Price/Unit
$491,667
Price/Gross SF
$378.59
Gross SF
3,896

Investment Overview

Marcus & Millichap is pleased to present a three (3) unit apartment building located at 1716 North Alexandria Avenue in Los Angeles, California. The subject property is located on the border of Los Feliz, north of Hollywood Boulevard and west of North Vermont Avenue.
Los Feliz is a relaxed hillside enclave that draws both established and up-and-coming creative types. This neighborhood is proudly inhabited by a diverse cultures, ages and incomes. With Hollywood to the west, Silver Lake to the south and Atwater village to the east, the area is home to some of the most outstanding architecture in Los Angeles County, but also the birthplace of many a motion picture and TV studio. There are plenty of old-school watering holes, hip shops and cafes, plus the Vista Theatre, a 1923 movie palace, and a pair of exemplary Frank Lloyd Wright homes. Los Feliz manages to strike a balance between desirability and approachability, its shops and eateries stay casually comfortable without becoming painfully cool. Its a polished, albeit still eclectic, neighborhood whose laid-back charms are best explored on foot with a walk score of 92 and easy access to 101 Freeway. The neighborhood borders sprawling Griffith Park, beloved by locals for its hiking, concerts at the Greek Theatre and stargazing at Griffith Observatory.
Built in 1917, this offering contains three (3) legal units in two (2) detached buildings. The large front building holds two (2) separate units, while the small back building holds one (1) unit. Each unit in the front building has one-bedroom + two-bachelor units, but are legally one (1) unit each. The small bungalow in back is a one-bedroom/one-bathroom unit. The property is gated with on-site parking and a beautiful, street-facing patio for residents to enjoy spending time outside. This offering is located on the border of Los Feliz, providing tenants with easy access to sought-after commercial corridors on Hollywood Blvd, Sunset Blvd, N Vermont Ave, and Los Feliz Blvd. Tenants can take a short two (2) minute walk to Hollywood Blvd to enjoy Barnsdall Art Park. Commissioned by wealthy and eccentric heiress Alice Barnsdall, the hilltop space has a gorgeous view of downtown and has an arts center, gallery and theater, as well as the Hollyhock House, designed by Frank Lloyd Wright. Walk one (1) block further and residents will end up at Sunset Blvd where they can enjoy visiting the Upright Citizens Brigade or Vista Theatre. Tenants can take a five (5) minute walk to N Vermont Ave to find House of Pies, Los Feliz Theater, and Louvre Banquet Hall. After a short five (5) minute drive, residents can enjoy food and entertainment, like Los Feliz Manor and Supermoon DJs, on Los Feliz Blvd.
Located in a desirable Los Feliz location, this offering presents an excellent opportunity for a savvy investor to capitalize on strong rental upside in a core market of Los Angeles.

Investment Highlights

  • Prime Los Feliz Location
  • Strong Rental Upside
  • Good Unit Mix
  • Two (2) Units in Front Building Have One-Bedroom + Two-Bachelor Units Each, But Are L
  • One (1) One-Bedroom/One-Bathroom Unit in Detached Back Bungalow
  • Dominant Access to Commercial Corridors - Hollywood Blvd, N Vermont Ave, Los Feliz Bl

Exclusively Listed By

Listing Price: $1,475,000

Cap Rate
4.17%
Number of Units
3
GRM
15.42
Occupancy
97.00%
Price/Unit
$491,667
Price/Gross SF
$378.59
Gross SF
3,896

Investment Highlights

  • Prime Los Feliz Location
  • Strong Rental Upside
  • Good Unit Mix
  • Two (2) Units in Front Building Have One-Bedroom + Two-Bachelor Units Each, But Are L
  • One (1) One-Bedroom/One-Bathroom Unit in Detached Back Bungalow
  • Dominant Access to Commercial Corridors - Hollywood Blvd, N Vermont Ave, Los Feliz Bl

Investment Overview

Marcus & Millichap is pleased to present a three (3) unit apartment building located at 1716 North Alexandria Avenue in Los Angeles, California. The subject property is located on the border of Los Feliz, north of Hollywood Boulevard and west of North Vermont Avenue.
Los Feliz is a relaxed hillside enclave that draws both established and up-and-coming creative types. This neighborhood is proudly inhabited by a diverse cultures, ages and incomes. With Hollywood to the west, Silver Lake to the south and Atwater village to the east, the area is home to some of the most outstanding architecture in Los Angeles County, but also the birthplace of many a motion picture and TV studio. There are plenty of old-school watering holes, hip shops and cafes, plus the Vista Theatre, a 1923 movie palace, and a pair of exemplary Frank Lloyd Wright homes. Los Feliz manages to strike a balance between desirability and approachability, its shops and eateries stay casually comfortable without becoming painfully cool. Its a polished, albeit still eclectic, neighborhood whose laid-back charms are best explored on foot with a walk score of 92 and easy access to 101 Freeway. The neighborhood borders sprawling Griffith Park, beloved by locals for its hiking, concerts at the Greek Theatre and stargazing at Griffith Observatory.
Built in 1917, this offering contains three (3) legal units in two (2) detached buildings. The large front building holds two (2) separate units, while the small back building holds one (1) unit. Each unit in the front building has one-bedroom + two-bachelor units, but are legally one (1) unit each. The small bungalow in back is a one-bedroom/one-bathroom unit. The property is gated with on-site parking and a beautiful, street-facing patio for residents to enjoy spending time outside. This offering is located on the border of Los Feliz, providing tenants with easy access to sought-after commercial corridors on Hollywood Blvd, Sunset Blvd, N Vermont Ave, and Los Feliz Blvd. Tenants can take a short two (2) minute walk to Hollywood Blvd to enjoy Barnsdall Art Park. Commissioned by wealthy and eccentric heiress Alice Barnsdall, the hilltop space has a gorgeous view of downtown and has an arts center, gallery and theater, as well as the Hollyhock House, designed by Frank Lloyd Wright. Walk one (1) block further and residents will end up at Sunset Blvd where they can enjoy visiting the Upright Citizens Brigade or Vista Theatre. Tenants can take a five (5) minute walk to N Vermont Ave to find House of Pies, Los Feliz Theater, and Louvre Banquet Hall. After a short five (5) minute drive, residents can enjoy food and entertainment, like Los Feliz Manor and Supermoon DJs, on Los Feliz Blvd.
Located in a desirable Los Feliz location, this offering presents an excellent opportunity for a savvy investor to capitalize on strong rental upside in a core market of Los Angeles.

Exclusively Listed By

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